Phinxt Robotics Secures £2M Funding to Scale Robotics Automation with Innovative Edge AI Platform

PHINXT Robotics, an AI-driven robotics software company, has secured £2 million in an oversubscribed funding round to further develop its innovative AI platform that simplifies and scales robotics automation in warehouses.

The round was led by Definitely Valley Ventures with the participation of Ada Ventures, Heartfelt And Atlas Ventures.

Founded in 2022, PHINXT Robotics is transforming the warehouse automation landscape with a cloud-based platform that dramatically reduces the cost and complexity of robot deployments. Traditionally, high installation costs (often over £500,000) have been a barrier to automation, leaving more than 90% of warehouses fully manual. PHINXT addresses this with its decentralized edge AI technology, which simplifies the coordination of robots at the edge, making automation accessible to more companies.

The platform is robot-agnostic, allowing companies to select and deploy the specific types of robots they need, leading to remarkable operational improvements. Companies using PHINXT’s technology have reported doubled profit margins and productivity increases of up to 400%.

PHINXT has already gained significant market traction and won contracts following a successful pilot with a major UK supermarket chain. The new funds will be used to expand the company’s engineering and sales teams and support its expansion into mainland Europe, where it sees significant growth opportunities. The global mobile robot market is expected to reach $16 billion by 2027, with an estimated 2.4 million mobile robots in use.

Looking to the future, PHINXT aims to expand its technology beyond warehouse automation to include delivery drones and autonomous vehicles. The company’s core decentralized edge computing technology, which enables machines to coordinate across a distributed network, positions the company to innovate in these groundbreaking technologies.

PHINXT CEO and co-founder Yanwen Chen is an expert in robotics with two PhDs in computer science and synchronization communications. Its breakthrough algorithm enables robots to orchestrate themselves even when disconnected from central networks, ensuring safety and efficiency in autonomous operations. Chen co-founded the company with Quirino Zagarese, PhD, an expert in distributed systems, to build a scalable architecture and product.

Commenting on the funding round, Yanwen Chen said: “At PHINXT, our mission is to revolutionize the logistics industry with our cloud-based platform that seamlessly integrates every type of robot, allowing them to collaborate and coordinate in a shared space without the need from a centralized server. This investment will enable us to expand our team and enter new markets, driving further growth and innovation.”

Brian Kinane, Founding Partner at Sure Valley Ventures, praised PHINXT’s approach, saying: “PHINXT’s unique edge computing technology helps warehouses dramatically increase performance and profitability, providing a highly flexible and cost-effective robotics solution that delivers a much greater will make acceptance possible. With their advanced proprietary technology, PHINXT is extremely well positioned to disrupt this market globally.”

Check Warner, partner at Ada Ventures and co-founder of Diversity VC, highlighted the strength of PHINXT’s leadership: “Yanwen Chen is without a doubt one of the strongest tech founders we’ve met. We are excited to invest in such a visionary founder who is shaping the future of edge computing, robotics and autonomous systems.”

This £2 million round follows a previous £600,000 raise from investors including Fuel Ventures, Amar Shah and Atlas Ventures, and marks another milestone in PHINXT’s journey to redefine robotics automation on a global scale.